18-34-year-olds actually don’t spend all their money on coffee & avocados

Contrary to popular belief, they spend 14% less than 35-44 year-olds on coffee per week.

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They’re actually thriftier than the 35-44 generation

Researchers who carried out a survey into Britons’ spending habits found the much-maligned 18-34s are thriftier than they’re often portrayed.

According to the findings, millennials spend just £5.56 per week on coffee - roughly two cups. This is 14% less than the £6.43 spent by 35-44 year-olds.

When it comes to hot and cold drinks, lunch and takeaways, the 35-44 age group will spend around £140 per year more than their younger peers.

And the belief that the younger generation spend a fortune on snazzy lunches has also been dismissed with more than half of 18-34 year olds "always" or "often" taking a packed lunch to work.

The study of Brits’ spending habits was carried out by car manufacturer Dacia, which is now selling its award-winning Sandero supermini for £79 per month - the equivalent of around £2.60 per day - on a personal contract hire (PCH) package.  

Dacia found just 3.7 per cent of Brits thought they could have a new car for between £2 and £3 per day, with the average adult thinking a new motor would cost almost four times (£10.89) as much.

"The findings have shown the younger generation aren’t the frivolous consumers who waste their hard-earned money like some would think. Britain is a nation of financially savvy shoppers who want quality as well as value for money, whether they’re buying a car or a coffee."

Ben Fletcher, Head of Dacia UK, said: "The findings have shown the younger generation aren’t the frivolous consumers who waste their hard-earned money like some would think.

"Britain is a nation of financially savvy shoppers who want quality as well as value for money, whether they’re buying a car or a coffee."

The research by OnePoll for Dacia found 34% of Brits thought they would never buy a new car - with seven per cent thinking coffee was a better way of spending £3 per day than a new car.

It did reveal millennials are twice as likely to regularly pay someone to wash their car.

But while they’re thriftier than the 35-44 generation, they lag behind over 55s who are the most sensible with their money. 

They spend £4.14 on coffee, £2.45 on soft drinks, £7.12 on lunch and £5.69 on takeaways per week – 35% less than millennials and 40% less than 35-44s.

The research also found almost one in 10  Brits admitted they had bought a book over the past year but not read it, with the same figure splashing out on clothes and not wearing them.

The Sandero is Europe’s best-selling retail car and has been awarded the title of ‘Best Small Car under £12,000’ by What Car? for the past seven consecutive years.

Figures:

The average Brit spends, per week:

£5 on coffee

£4.28 on soft drinks

£7.83 on takeaways

£8.29 on lunch

= £25.40

18-34 year olds

£5.56 on coffee

£5.74 on soft drinks

£9 on takeaways

£9.09 on lunch

= £29.39 (15% above average)  

35-44 year olds  

£6.43 on coffee

£6.02 on soft drinks

£9.89 on takeaways

£9.71 on lunch

= £32.05 (26% above average)  

45-54 year olds

£4.94 on coffee

£4.19 on soft drinks

£7.99 on takeaways

£8.10 on lunch

= £25.22

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